Why You Need Condo Insurance
If a pipe bursts and floods your unit, if a guest slips and falls, or if a theft occurs — your HOA policy won't help you. You need your own coverage to be fully protected. Many NC condo associations also require unit owners to carry their own insurance.
What Condo Insurance Covers
- Personal property — furniture, electronics, clothing, valuables
- Interior improvements and betterments you've made to the unit
- Liability if someone is injured in your unit
- Loss of use — temporary housing if unit is uninhabitable
- Loss assessment coverage for HOA special assessments
- Medical payments to others injured in your unit
How Condo Insurance Works with Your HOA
- HOA master policy covers exterior walls and common areas
- Your HO-6 policy covers from the walls inward
- "All-in" HOA policies cover more; "bare walls" policies cover less
- Loss assessment coverage helps if the HOA makes a special assessment
- Review your HOA documents to understand what's covered at the building level
What to Insure in Your Condo
- All personal property (estimate total replacement cost)
- Flooring, cabinets, and countertops if you paid for upgrades
- Appliances you own
- Light fixtures and built-ins you've installed
- Electronics and high-value items (may need scheduled coverage)
Frequently Asked Questions
Doesn't my HOA insurance cover my unit?
Your HOA's master policy covers common areas and typically the exterior structure. It does not cover your personal belongings, interior finishes, or your personal liability.
What is loss assessment coverage?
If the HOA faces a large claim that exceeds their master policy, they may assess all unit owners for a share of the cost. Loss assessment coverage in your condo policy helps pay your portion.
How much condo insurance do I need?
Enough to cover all your personal property, any improvements you've made to the unit, and adequate liability coverage (typically $100,000–$300,000 minimum).